Japanese yen trades in a narrow range before BOJ meeting

By IBT Staff Reporter On 04/25/12 AT 3:06 AM

The Japanese yen started today's trading session with slow movements against its major counterparts, where it declined versus the American dollar before the BOJ meeting, where the expectations indicated that Bank of Japan is to add more stimulus this week.

USD/JPY pair started the day at 81.38, where it recorded a high of 81.54 and a low of 81.32.

On the other hand, Australian dollar dropped against the US dollar as Asian stocks rose today for the first rally in five days, supporting to reduce the demand for Aussie.

AUD/USD pair trades around 1.0306, which declined to the lowest level 1.0305, recorded a high of 1.0337 with the begging of trading session.

Moreover, NZD/USD pair dropped during Asian session, where it trades around 0.8109 after recorded the low of 0.8106 and the high of 0.8142.

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